Las Vegas, NV · Member since 2016 · 12 posts · 1 vote
Hi all.
I'm a REALTOR, and I've been approached by a wholesaler who's offered to be my assistant in exchange for access to the MLS. I've checked with my broker, and this is allowed so long as the non-licensee doesn't do any work that requires a license (of course). I'm still concerned about liability and other things that could go wrong, though.
Has anyone else had this type of arrangement and had it go south? Or served on a disciplinary board and had a case involving this sort of arrangement come up? I'm licensed in Nevada, but I'd be interested in people's experiences all over, since I might decide to get licensed in other states later on.
Investor · Sapulpa, OK · Member since 2013 · 146 posts · 50 votes
9y
I wouldn't because they're representing you. I've seen wholesalers screw up more deals than they have come through with something worthwhile. If they piss some homeowner off, which they do a lot, you'll be sure to hear about it.
Your second sentence should give you great pause. Wholesalers do this " the non-licensee doesn't do any work that requires a license (of course)"
You and your broker are responsible for the actions of your assistant. So when the wholesalers is out there exaggerating not informing sellers they do not have the funds to close and exaggerating ARV's to buyers, do you want to be responsible when a deal goes south ?